OpenSea eyes $13 Billion valuation

Investors are pouring money into non-fungible tokens (NFTs) as the industry keeps expanding.

The largest NFT marketplace OpenSea
OpenSea | Image: Optimisus

A report published by OpenSea insider Eric Newcomer shows that OpenSea, the largest NFT marketplace, is aiming for a valuation of $13 billion.

The company will hold a funding round that will be led by Coatue Management, a New York-based tech-focused investment manager.

According to a November report, OpenSea’s available investment offers would increase the company’s valuation to up to $10 billion.

Currently, the company is worth $1.5 billion. This happened after OpenSea concluded a $100 million funding round in July.

Data provided by DappRadar stressed that the daily trading volume on the NFT marketplace is currently $162.5 million.

OpenSea experienced a tremendous surge in popularity last year since its launch in 2017.